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Mexican Oil Workers Threaten Strike

Updated Sept. 19, 2002 7:50 p.m. ET

Mexico's oil-workers union said it was giving no ground in contract talks with the government as prospects of an unprecedented strike at state oil monopoly Petroleos Mexicanos rattled the country's financial markets. One day after union members took to the streets across the country, the Oil Workers Union of the Mexican Republic said it was holding firm to its demand for a 15% wage increase in talks that have taken on a political edge after the government charged three union leaders in connection with a multimillion-dollar fraud. The 80,000-member union has said it will walk out on Oct. 2 if its demands aren't met, posing...